A-Shares Stage V-Shaped Reversal
The A-share market witnessed a V-shaped reversal on Tuesday, with major indexes recovering after a lower open. In the afternoon, driven by a general rebound of heavyweight stocks, the Shanghai Composite Index regained 2,800 points, leading the way in gains and collectively performing the “V”-shaped reversal.
At the close, the Shanghai Composite Index rose by 0.43%, the Shenzhen Composite Index rose by 1.00%, and the GEM Index rose by 1.93%. This surge was reflected in the trading volume for the whole day, which saw a substantial increase of 227.3 billion yuan compared with the previous trading day.
In the market, “Huazi Generation” stocks continued to be strong, with several stocks recording consecutive boards. In the photovoltaic sector, the sector was active, with companies such as TCL Zhonghuan and Luopskin reaching their daily limit.
The AI concept stocks also rose during the session, with Hengxin Oriental hitting the daily limit by 20%.
In addition, the financial sector saw a significant development, with the large financial sector, led by securities firms, beginning to exert force. Xiangcai shares even hit the daily limit during the session.
The photovoltaic sector witnessed further expansion in gains, with Luopskin revealing increased production capacity, and the prices in the industry chain stabilizing.
The Ministry of Industry and Information Technology unveiled plans to accelerate the formation of a comprehensive standardization system for the Artificial Intelligence industry, leading to the rise of AI concept stocks during the session.
In the Hong Kong stock market, the Hang Seng Index reported an increase of 0.82%. Raw materials, finance, information technology, and real estate were among the leading sectors in gains.
The Beijing Stock Exchange 50 Index also saw a strong performance, closing up 2.41%, with a market turnover of 12.190 billion yuan. Aimei Vaccine and Minth Group were among the individual stocks that experienced significant gains during the session.
The rebound in the automobile industry was attributed to a document focusing on the coordinated development of intelligent connected vehicles, encouraging the development of smart buses, passenger cars, and automatic parking in limited areas.
This news article is sourced from Shanghai Securities News and merely serves the purpose of disseminating information. It does not constitute investment advice, and readers are advised to tread carefully and operate at their own risk.